Looking for information about your firm's panel status?
Suffolk Building Society Conveyancing Panel Assistance:
What are the Suffolk Building Society conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
The Society operates a Conveyancing Panel and in order for Firms to act for the Society you must be appointed to this panel. To be appointed to the panel you should apply at:-
www.lms.com/lenderpanels
You must also comply with the terms and conditions of your Suffolk Building Society solicitor panel appointment.
I am on the Suffolk Building Society conveyancing panel. Can I get an archived copy of Suffolk Building Society Specific Requirements from the BSA?
The BSA, as is the case with the CML do not maintain duplicates of Specific Requirements. We would recommend you contact Suffolk Building Society direct.
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel ?
The fact of the matter is that estate agents will be feeling the pain if their clients start out on the buying process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.
As the nominated Compliance Officer for Legal Practice are there regulatory implications that I should be considering if my firm is suspended off the Suffolk Building Society conveyancing panel?
What you should do largely depends on the reason that your firm has been removed off the Suffolk Building Society conveyancing panel. The top 3 reasons are as follows:
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction.
Can the BSA assist me in an appeal having not been accepted onto the Suffolk Building Society conveyancing panel?
If you have not been accepted or indeed been removed from the Suffolk Building Society conveyancing panel then the BSA will not have any part to play in influencing Suffolk Building Society in changing their mind. Please contact us here at Lexsure so that we can put you in touch with a consultant who may be able to assist. At the very least it’s worth a call to us.
The CML Handbook contains conveyancing instructions for a roof with a solar panel. Suffolk Building Society do not seem to have any similar obligations via the BSA Mortgage Instructions. Am I missing something?
The BSA Mortgage Instructions don't
specifically deal with Solar Panels but it would be prudent as
approved solicitors for Suffolk Building Society to raise the issue
with them (as you would if the UK Finance Lenders’ Handbook applied). In any event you
need to raise the appropriate questions for your buyer client.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the Suffolk Building Society Conveyancing Panel
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Average number of days to register title including a charge in favour of Suffolk Building Society
This information relates to purchase only and not remortgages.
Year | Days* |
---|---|
2024 | [no data] |
2023 | [no data] |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
2019 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
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- Draft Report on Title precedent for Suffolk Building Society borrowers
- Draft Anti Money Laundering PolicyTemplate for Suffolk Building Society panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Suffolk Building Society lender panel
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